Alapt

Cryptocurrency news

Everledger and Circular will develop a platform to track shipments of cobalt and lithium

Everledger and Circular will develop a platform to track shipments of cobalt and lithium

British startup Everledger has entered into a partnership with Circulor, which will develop a platform based on the Hyperledger Fabric blockchain to track the supply chains of cobalt and lithium.

Everledger specializes in using blockchain to combat counterfeiting of precious stones, in particular, diamonds. The company’s management stated that it intends to expand the scope of its activities, using the blockchain to control the supply of rare minerals used for the production of batteries.

Well-known carmaker Mercedes Benz is already using Circulor technology to track the supply chain of cobalt, as well as the level of carbon emissions. Circulor and Everledger share a similar concept – they use blockchain to control compliance with social and environmental regulations in mining. Therefore, the startups decided to develop a joint product.

Everledger co-founder Leanne Kemp and Circulor CEO Doug Johnson-poensgen announced that their solution will work on the Hyperledger Fabric blockchain. The possibility of interacting with IBM is also discussed.

Ponsen added that the platform will be used not only to track cobalt production in the Democratic Republic of the Congo, but in different regions of the world. For example, lithium mining in the Atacama desert leads to water pollution, so the blockchain solution is aimed at preventing environmental disasters.

Note that in December, the Russian diamond mining company ALROSA started working with The everledger startup, which launched a pilot project to track diamonds on the blockchain.